The coming recession seems closer to me now than it did a month ago. (And more than just a month closer, hahaha) It’s a shame that it happens when wages FINALLY start to gain some ground on profits.
I still feel Roubini is overly bearish, but it’s almost as if he magnifies his take to try to contrast the media at large and public perception, which is overly bullish.
Interestingly, I don’t think this recession will hurt the average American as much as it does corporate profits, which have been sky high for the past 3-4 years. Unemployment is the big risk.
